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I'm always really surprised when agents say that Open Houses are a waste of time. We bought our house after an Open House. Two of the offers on our house, including the one we're currently negotiating, sprung from people who first came to an open house. I think they give people a no-hassle, no-commitment way to get a look at properties.
I'm always really surprised when agents say that Open Houses are a waste of time. We bought our house after an Open House. Two of the offers on our house, including the one we're currently negotiating, sprung from people who first came to an open house. I think they give people a no-hassle, no-commitment way to get a look at properties.
That's because statistically they don't work. In some areas, open houses work well. It really is a local judgment call. Overall though, you have less than a 1% chance of a buyer finding your home through an open house.
Solicit feedback from visitors and agents to see where the listing is lacking.
Evaluate feedback and counsel you on staging options, price reduction, or other improvements. /quote]
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I do not mean to be snarky here.....how is it the listing agent is unaware of what the listing lacks relative to the competition? This implies the listing agent does not know the competition.
So called " fixed defects" like inferior location, small yard/lot, ackward floor plan, ceiling heights, lack of a functional basement ( where basements are common) can only be cured with price.
I'm always really surprised when agents say that Open Houses are a waste of time. We bought our house after an Open House. Two of the offers on our house, including the one we're currently negotiating, sprung from people who first came to an open house. I think they give people a no-hassle, no-commitment way to get a look at properties.
It really depends on the neighborhood, local customs and market.
Back in 2004-5, homes were selling off a open house in areas where open houses were popular. This is rarely the case, in this market.
I remain an advocate for an initial Public Open House, if for no other reason, than it will usually bring in neighbors who are more likely to know someone who wants to live in the neighborhood.
However, as my husband points out, none of the houses are selling. Maybe we just need to wait it out.
In my own market, pricing about 18% off the peak, seems to be the magic number in terms of getting sold. The occasional property that comes to market, priced 18-20% off peak, sells and often quickly.
What's your motivation for selling, at this time?
What happens if you do not sell?
We've been talking about selling the house and moving to another area for some time now. We're in a house with 3 floors now, and my husband wants a ranch. The stairs are getting to him as he's getting older. We live on the water in a boating community. We used to like boating and fishing....but no longer. We sold the boat. We're at a point in our lives where we want more privacy, more quiet and more land. We had a good time here, and it was fun, but we want to move on. We are also looking for an area where the taxes are lower. If we don't sell the house, we'll just stay here until the market is better. We don't plan to give the house away.
I don't know if it will make a difference if we lower the price to 499. There are other houses similar to ours, but smaller and not updated, that are in the 400s and they are not selling either.
We have a lot of decisions to make when our contract with this realtor is over.
Regarding open houses.....for some reason, realtors don't seem to do them in this area.
By the way, I just got a phone call that an agent wants to bring some people to look at the house on Friday. Maybe these will be the ones!
In my own market, pricing about 18% off the peak, seems to be the magic number in terms of getting sold. The occasional property that comes to market, priced 18-20% off peak, sells and often quickly.
What's your motivation for selling, at this time?
What happens if you do not sell?
I agree. I sold my home quick because I listed my home 16% lower from what I purchased it from "peak" 2005 price. I sold within 10k of list price. I lost 130k but that's what it will take to move a property quickly. No short sale needed. Just covered my losses. I am responsible for my own actions and can take care of myself. Good thing I put down a sizable downpayment and paid principal each month or I would have been bringing even more money to closing.
We would not be in this housing mess if people would put down bigger downpayments and pay into the principal each month.
Listing agents rarely sell houses and open house are for the agents to get new clients not to sell your house.If you feel like you do not want to give away your house then maybe you should take it off the market and wait a cuople of years.That's what it could take to get better.When you list your home for sell it is no longer your home, this is hard to get used to sometimes.Good luck!
Solicit feedback from visitors and agents to see where the listing is lacking.
Evaluate feedback and counsel you on staging options, price reduction, or other improvements. /quote]
__________________________________________________ __________________________________________________
I do not mean to be snarky here.....how is it the listing agent is unaware of what the listing lacks relative to the competition? This implies the listing agent does not know the competition.
So called " fixed defects" like inferior location, small yard/lot, awkward floor plan, ceiling heights, lack of a functional basement ( where basements are common) can only be cured with price.
I have to admit that I don't know what "snarky" means, but I know that I did not write "what the listing lacks relative to competition".
Getting visitor feedback is a valuable tool.
For example: The listing agent and the seller may be unaware that the friendly dog left in the garage during showings, barks fiercely and incessantly at strangers in the home, or that prospective buyers with cat allergies react so strongly to the cat hair in the carpet that they won't even finish the walk through.
All good things to know.
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